What amount is received by alpha company for the amount

Assignment Help Financial Accounting
Reference no: EM132494876

Question 1: On August 13 Alpha Company sells merchandise on account for £5,000 to Beta Company with credit terms of 2/10, n/30. On August 15 Beta Company returns £1,000 of merchandise that was damaged. What amount is received by Alpha Company for the amount due on August 22?

A) 4000

B) 3920

C) 4900

D) 4920

Reference no: EM132494876

Questions Cloud

What presto will record the acquisition cost of equipment : What Presto will record the acquisition cost of the equipment as? Presto Company purchased equipment and these costs were incurred
What the depreciation expense for the first year is : What The depreciation expense for the first year (2019) using the straight-line method of depreciation is and The total depreciable cost of the equipment is
Is outsourcing often an option for organizations : In discussing business profitability. Is Outsourcing often an option for organizations to reduce costs? provide specific examples, references
Evaluate replacement decisions : It is being depreciated on a straight-line basis over an eight-year life to a zero salvage value. This particular machine was purchased because the firm
What amount is received by alpha company for the amount : Beta Company returns £1,000 of merchandise that was damaged. What amount is received by Alpha Company for the amount due on August 22?
What cost of goods sold under the average-cost method : Assume a periodic inventory system is used. Cost of good sold under the average-cost method is? A company has the following data related to an item of inventory
What is the most you would be willing : If your required return on this stock is 8.59 percent, what is the most you would be willing to pay for Alfa Growth, Inc. common stock now?
What is the amount of interest revenue recorded : Alpha Company lends, Alpha Company prepares financial statements on December 31. What is the amount of interest revenue recorded in 2020?
How does that change once one is no longer a student : ? Indicate and justify which institution you feel would be better for you. Cite your sources.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Using adam smiths canon evaluate federal income tax

How does the pay-as-you-go procedure apply to wage earners? -To persons who have income from sources other than wages?

  Compute the ending inventory for choctaw company

(Dollar-Value LIFO) Presented below is information related to Martin Company. Use the dollar-value LIFO method to compute the ending inventory for Choctaw Company for 2009 through 2013.

  Purchase of merchandise inventory with cash

How would you record the purchase of merchandise inventory with cash?

  Determine ratio of cash to monthly expenses as of december

Determine the ratio of cash to monthly expenses as of December 31, 2004, 2003, and 2002. Round to one decimal place. Based upon (1) and (2), comment on OccuLogix's ratio of cash to monthly operating expenses for 2004, 2003, and 2002.

  What is the monthly rate on this annuity

Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $80,000 at age 65, the firm will pay the retiring professor $600 a month until death. If the professor’s remaining life expectancy is 20 years, what is the m..

  What is the bond yield to call

A bond matures in 10 years. The bond has a 10 percent annual coupon and a par value of $1,000. What is the bond’s yield to call (YTC)?

  Calculate the ratio for return on assets

Calculate the ratio for Return on assets, Return on common stockholders' equity, Payout ratio, Debt to assets ratio. Sheffield Company manufactures backpacks.

  Patterson report as a romotional expense

Patterson Cereal includes one coupon in each package of Wheatos that it sells and offers a toy car in exchange for $1.00 and three coupons. The cars cost Patterson $1.50 each. Experience indicates that 40% of the coupons eventually will be redeemed. ..

  Indicate adequately the position of bondholders

An investor argues that a Bargain generated from an acquisition should be recognized in the same manner as goodwill. Using the Codification, how can you refute the statement? In some cases parent-entity financial statements may be needed, in addition..

  Create a technology plan for your nab company

Create a technology plan for your NAB company using the template in the text as a guide (p. 227 | Technology Plan Preparation Form ). Extract appropriate information from the NAB Company portfolio, where applicable.

  Tax issues-ethics letter assume relative asks for tax advice

Tax Issues/Ethics Letter Assume a relative asks for your tax advice (after all, you told them to "just ask!"), or assume you are responding to a client as you write a letter on one of the following cases. In March, Jim, a firefighter, was injured in ..

  Calculate the amount over or short

Lourdes LLC. keeps a $100 change fund in its cash register. At the end of the day, cash sales per the register tape were $3,820. The cash count was $4,300.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd